Anil Ambani bets big on defence

Anil Ambani`s Reliance Group has never made a military helicopter, missile system or submarine in its history but that isn`t stopping the Indian tycoon from seeking to win contracts to manufacture all of that military hardware and more. Ambani`s plans to turn Reliance into a major defence company may be one of his boldest yet. It has already bid for 840 billion Indian rupees ($12.5 billion) in government contracts, senior executives said, though it hasn`t yet won any of those. The success of the strategy will depend partly on whether he can persuade government officials and international partners that he can build sophisticated equipment.